Red Roof Inn Etowah / Athens, Tennessee
Hospitality
for Sale
| Catylist Listing ID: |
30786219 |
| Property Subtypes: |
Hotel
|
| Number of Units: |
72 Units |
| Building Size (RSF): |
28,968 SF |
| Gross Building Area: |
See Agent |
| Gross Land Area: |
1.53 Acres
|
| Sale Price: |
$3,100,000 |
| Unit Price: |
$43,055.56 Per Unit |
| Property Use Type: |
Investment |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
5/24/2022 |
Overview / Comments
The Red Roof Inn of Etowah, Athens is a 72-room interior corridor hotel just outside of Cleveland, Tennessee. The hotel has had consistent revenue and was virtually unaffected by the disruption of the COVID-19 pandemic. Much of its business is generated from nearby industry and is conveniently to all major demand generators.
The hotel features a compact design perfect for an owner operator. There is a main laundry located behind the office that features two 60-lb washers and two gas dryers. There is a management apartment on the located on the third floor. Guest laundry and vending is conveniently located.
The lobby is spacious and has an adjoining breakfast area with ample seating. The hotel also has a meeting room, fitness room and outside gazebo.
This property is perfect for an owner operator looking to own a low maintenance interior corridor property with strong, consistent revenue.
Contact Listing Agent. Do not disturb the operating business. Contact Agent for additional photos.
|
Financials
| Finance Data Year |
2020 |
| Real Estate Taxes - Annual($) |
$30,554 (Annual) |
| Tax Value Improvements |
$2,047,500 |
Additional Details
| Nearest MSA: |
Athens |
| County: |
McMinn |
| Tax ID/APN: |
054107J B 05200 |
| Site Description: |
The hotel lot faces Tennessee Ave. |
| Area Description: |
Near regional medical center and other draws. Denso Manufacturing at Interstate Exit 305, David W Lillard Memorial Highway. 1.1 miles to Etowah Elementary School.
Exit from Interstate 75 toward Etowah approximately 6 miles on Highway 305 / David W Lillard Memorial Highway. Highway 305 runs into Highway 11. Turn right. Red Roof Inn is on the right. |
| Total Number of Buildings: |
1 |
| Property Condition: |
Good |
| Year Built: |
2004 |
| Parking Type: |
Surface |
| Interior Description: |
Updated Red Roof decor and furnishings. New Red Roof signage. |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
665 |
8,184 |
9,128 |
| Median Age: |
41.91 |
44.09 |
43.92 |
| Households: |
288 |
3,349 |
3,704 |
|
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